Apple recently announced record quarterly results for Q1 2026, with China displaying the best iPhone quarter in its history and seeing double-digit year-on-year traffic growth in its stores.
CEO Tim Cook declared in its fiscal Q1 (ending 27 December) earnings call: “We are reporting our best ever quarter”, driven by a 23.4 per cent jump in iPhone sales to $85.3 billion. He added demand for iPhones was “simply staggering”.
Looking to the current quarter, Cook expects total revenue to grow by 13 per cent to 16 per cent year-on-year.
Sales in China, the fastest growing region, jumped 38.8 per cent to $25.5 billion in the October to December period. He said the growth was fuelled by demand for its smartphones, with enthusiasm for its latest iPhone 17 lineup.
The surge follows a 4 per cent drop in sales in fiscal Q4 to $14.4 billion.
Cook stated Apple continued to gain momentum in emerging markets, which includes India, where it opened its fifth store in December and saw strong double-digit revenue growth.
The CEO noted it continues to see the pricing for memory increasing significantly and expects it to have “a bit more of an impact to the Q2 gross margin” after minimal impact in fiscal Q1.
Net profit grew 15.9 per cent to $42 billion, with product sales rising 16.2 per cent to $113.7 billion and services increasing 13.9 per cent to $30 billion.
Sales of wearables and accessories dropped 2.2 per cent to $11.5 billion, while iPad sales were up 6.3 per cent to $8.6 billion, topping Mac sales, which dipped 6.7 per cent to $8.4 billion.
Total sales in the Americas grew 11.8 per cent to $58.5 billion, while Europe sales rose 12.4 per cent to $38.1 billion. The rest of Asia Pacific and Japan posted 18 per cent and 4.7 per cent revenue growth to $12.1 billion and $9.4 billion, respectively.
Source: Mobile World Live
Image Credit: Apple
